Call all existing Chase Sapphire Reserve® (See Rates and Fees) Cardholder—or at least the cardholder before renewing the card in June.
We now have access to new claim points for Sapphire Reserve. I don’t know about you, but I’ve been counting down the days until October 26th comes around so I can use those points.
That’s because newly approved applicants who get their cards on or after June 23 can unlock the updated benefits immediately, while existing cardholders can get a points boost on that date but must wait until October 26 to access the rest of the card’s benefits.
Now that all Sapphire Reserve card members are on the same page, let’s talk about the easiest way to get the most value from your card: Track its points and benefits to make sure you’re getting the most out of them and to help offset the card’s annual fee.
Sapphire Reserve Annual Fees and Statement Credits
I firmly believe that if you’re not maximizing the benefits of your credit cards, it’s time to reconsider whether they’re worth keeping.
Don’t get me wrong. A card that only offers one or two benefits can still provide value, but if you’re paying an annual fee for a product that doesn’t serve you, it might be time to make a change or downgrade.
This is how I make sure the cards in my wallet are worth keeping year after year, especially my Sapphire Reserve and an annual fee of up to $795. Since this is the most expensive card I currently hold, I pay close attention to its offerings.
Related: Your Complete Guide to Credit Card Annual Fees
As mentioned above, one of the easiest ways to offset a card’s annual fee is to get as much value as possible from its benefits, such as statement points.
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The table below outlines my Sapphire Reserve gains that I have fully maxed out, as well as the new points I just earned that I plan to use throughout the year. It also shows the math I use to back up that value from the annual fee to ensure I’m getting my money’s worth.
| Sapphire Reserve Statement Credit | Annual fee minus Sapphire Reserve statement credit |
|---|---|
| Receive a $500 Editor’s Credit for stays booked through Chase Travel℠ (up to $250 paid semi-annually; minimum two-night stay required)* | $795 minus $500 equals $295 |
| $300 travel credit | $295 minus $300 equals -$5 |
| Up to $300 in StubHub credits annually (payable at $150 biannually) (ends December 31, 2027) | -$5 minus $300 equals -$305 |
| Free $250 Apple TV+ and Apple Music subscription (ends June 22, 2027) | -$305 minus $250 equals -$555 |
| Up to $120 in Global Entry Statement Credit (every four years) | -$555 minus $120 equals -$675 |
| $120 DoorDash DashPass membership (ends December 31, 2027) | -$675 minus $120 equals -$795 |
*Effective January 1, 2026, this statement credit will change; Chase Sapphire Reserve and Chase Sapphire Business Reserve℠ (See Rates & Fees) Cardholders will automatically receive up to $250 in prepaid bookings through The Edit twice a year (up to $500 per year) without having to wait to use the $250 semi-annual statement credit between January through June and July through December.
Thanks to The Edit’s massive $500 credit, I didn’t have to spend much to make a profit. As you can see above, my card’s benefits start off with $300 in travel points to offset the annual fee, because the benefits and points in this table are things I’ve already spent money on or would still pay for even if I didn’t have a Sapphire Reserve card. With just two bill points, I was able to break even on the $795 annual fee.
Note that the numbers in the table above don’t even take into account the perks and statement credits I occasionally use, such as DoorDash promotions of up to $300 per year (paying up to $25 in credits per month; this breaks down into $5 promotions for restaurant orders and two $10 promotions per month for things like grocery delivery).
Related: Are premium credit cards worth the annual fee?
This means it’s possible that I saved even more by holding the Sapphire Reserve than what’s listed in the table. This is especially true for the lounge access I got with my card, because in addition to Priority Pass membership (which gets me access to the lounge), it also provides exclusive access to the club’s Chase Sapphire Lounge.
I’ve written before about why I chose to keep my Sapphire Reserve even as its annual fee jumped from $550 to $795. My reasoning essentially boils down to the fact that the card is worth far more than its annual fee, and that becomes even more true now that I have access to additional points and benefits.
Track your bill credits to maximize value
I recommend starting with basic tools – I like using a simple Google Sheet to track my credits. Carly Helfand, director of points, miles and credit card content at TPG, likes TickTick because it can make bill credit to-do lists and set reminders before they’re due.
If you prefer a less technical approach, pen and paper are always available too. Remember to check your tracker monthly to make sure you’re maximizing your card’s value.
bottom line
Whether you have a single card or multiple cards, consider tracking your statement credits, especially if you’re like me and have a lot of cards. This is a sure-fire way to get the most value out of the six cards I currently have in my wallet (many of which, e.g. Sapphire Reserveoffers a variety of statement points and benefits that I use to minimize or completely offset the cost of their annual fees).
Even if you don’t pay an annual fee on the cards you own, you could be wasting money by not activating quarterly cash back categories or monthly, quarterly and semi-annual statement credits.
Related: Earn rewards on a budget with these no-annual-fee credit card strategies
